Press release
Business Process Management Market Trends, Growth, Industry Analysis and Forecast 2022-2027
Business process management (BPM) helps companies automate, analyze, and improve end-to-end business processes to achieve their objectives. It uses advanced analytics, real-time monitoring, and decision-making tools to speed up operations, increase transparency and security, evaluate processes, enhance efficiency, and reduce costs and errors. At present, BPM is employed in various fields, including human resources, sales and marketing, accounting and finance, manufacturing, and supply chain management across the globe.
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Business Process Management Market Trends and Drivers:
Rapid industrialization and increasing demand for automation of repetitive tasks in different industries, such as banking, financial services and insurance (BFSI), healthcare, retail, information technology (IT), and telecommunication, represent one of the key factors positively influencing the market. In addition, rising concerns over data theft and cybercrime, in confluence with the escalating demand for resource mobilization and improving transparency in business operations, are fueling the growth of the market. Moreover, key market players are introducing advanced technologies, such as artificial intelligence (AI), into existing BPM to eliminate errors in business processes. In line with this, the increasing demand for cost-effective and efficient business operations is driving the market. Furthermore, rising investments in research and development (R&D) activities for integrating BPM solutions with other technologies, such as the internet of things (IoT) and blockchain, for expanding their capabilities are stimulating the growth of the market worldwide.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Deployment Type:
On-Premises
Cloud
Breakup by Component:
IT Solution
Process Improvement
Automation
Content and Document Management
Integration
Monitoring and Optimization
IT Service
System Integration
Consulting
Training and Education
Breakup by Business Function:
Human Resource
Accounting and Finance
Sales and Marketing
Manufacturing
Supply Chain Management
Operation and Support
Others
Breakup by Organization Size:
SMEs
Large Enterprises
Breakup by Vertical:
Government & Defense
BFSI
IT & Telecom
Healthcare
Retail
Manufacturing
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Adobe Inc (ADBE:NASDAQ GS)
Appian Corporation (APPN)
FABASOFT AG (FAA.F)
Hewlett Packard Enterprise Comp (HPE)
International Business Machines Corp (IBM)
Microsoft Corporation (MSFT)
OpenText Corporation
Oracle Corporation
Pegasystems Inc.
SAP SE
Software AG
TIBCO Software
Ultimus Inc.
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